Global Talent Competitiveness Index (GTCI 2020): 8th place for Luxembourg

For the 7th consecutive year, the international school of management INSEAD and The Adecco Group, publish, in partnership with Google, the Global Talent Competitiveness Index (GTCI).

GTCI 2020: future perspectives the job market and talents

The GTCI report consists of an annual comparative analysis, which ranks countries and cities according to their ability to produce, attract and retain talent.

The report provides governments, cities, businesses and non-profit organizations with a tool to help them design their talent strategies, overcome skills mismatches and compete in the global market.

This year, the index includes 70 variables. It covers 132 countries and 155 cities, in all income groups and levels of development.

The 2020 edition deals with the theme of global talents in the era of artificial intelligence. The report explores how the development of Artificial Intelligence is transforming the nature of work, and forced to reassess professional practices, business structures and innovation ecosystems.

Luxembourg confirms and strengthens its leadership position

This year, Luxembourg is gaining 2 places, ranking 8th. Luxembourg's performance is superior to that of other European countries.

Luxembourg stands out mainly by:

  • its ability to attract talent, especially foreign companies and talents
  • its ability to retain them, in particular thanks to its pension and social protection systems
  • innovation
  • entrepreneurship

Artificial Intelligence and its perspectives in Luxembourg

In the 2020 report, Nicolas Schmit, current European Commissioner in charge of the employment and social rights portfolio, explains how the Luxembourg addresses the opportunities and changes brought about by AI. He underlines the importance of good performance of ICT infrastructures, the need for guarantees in terms of data protection and privacy, the challenge of establishing new relationships between man and machine and the key role of upskilling.

“In Luxembourg, we want to be a data hub. Therefore, we need to encourage ways to own or share powerful computers that can handle big data. Such an approach will have a significant impact on employment, because repetitive jobs disappear and new ones are created. Certain sectors, such as finance, the key to the Luxembourg economy, will be profoundly transformed: the banks of tomorrow will be closer to fintech. This means that the changes will not only be technological but also organizational. "

He adds: "I'm not pessimistic about the future of AI and jobs, because I think that this future depends on us, on the way we organize the world of work. We probably have to totally change the way people work. This can bring new great opportunities. "

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GTCI 2020

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